I have an idea., page-15

there is a cost to afterpay to align to Qantas FF. Just like there is to the banks that offer it.
Effectively Afterpay having QFF alignment means they pay Qantas for a shit tin of points each year then give these to their customers as they spend. But it increases the operating costs to Afterpay.
Given Afterpay are making 4.5 percent of TTV in margin currently the Qantas partnership may reduced this margin by a full percentage point or more, maybe less. A big chunk of Afterpays business is still.coming from the ANZ region.

I'm sort of glad zip aren't offering Qantas points. Qantas points are a strong assofiationto the traditional credit card. And Afterpay aligning with them tellse they are old tech desperate to try and grow their business any means poasible. With the collapse of virgin points the airline points system has come under threat and I think when virgin stopped people from being able to use their points that was a wake up to consumers that their treasured points they'd been collecting were now useless.
qantas points can still be used, but if I have the choice of QFF or a 1 percent cash back I would choose that everytime instead of being forced to use it on the most expensive airline in Australia

Afterpay have also released their own credit card so I am not sure of their strategy it's really mixed signals. First they say they are a budgeting tool. Then a credit card alternative, then they offer a credit card. Now Qantas points. Smells of chaos amongst the senior leadership at Afterpay clutching at straws looking for growth lacking the foresight needed to see where payments are going.